02 November 2021, Tuesday, 17:12 89

Rada Adopts State Budget-2022 In 1st Reading

Редактор: Daria Zubkova

The Verkhovna Rada adopted in general the conclusions and proposals to the bill on the state budget for 2022, which means the adoption of the state budget in the first reading.

273 MPs voted for the adoption of the draft resolution No. 6000-p as a whole, with the minimum required 226, Ukrainian News Agency reports.

After the adoption of this document as a whole, the bill on the state budget-2022 is considered adopted in the first reading.

According to the Budget Code and the regulations of the Verkhovna Rada, the draft state budget for the next year in the first reading must be adopted by October 20.

After that, the Cabinet of Ministers, with the participation of the parliamentary budget committee, must, within 14 days, but no later than November 3, submit to parliament an updated draft, taking into account its budgetary conclusions with a comparative table explaining the reasons for rejecting individual parliamentary proposals.

On September 15, the Cabinet of Ministers proposed to the Verkhovna Rada to adopt the state budget-2022 with revenues of UAH 1,267.4 billion, expenditures of UAH 1,441.9 billion and a deficit of 3.5% of GDP.

The maximum volume of the state budget deficit is stipulated in the amount of UAH 188.006 billion, including the maximum volume of the general fund deficit - in the amount of UAH 160.259 billion and the maximum volume of the special fund deficit - in the amount of UAH 27.746 billion.

According to the Ministry of Finance, real GDP is expected to grow by 3.8% next year, by 4.7% in 2023 and by 5% in 2024.

Inflation is projected at 6.2% next year, 5.3% in 2023 and 5% in 2024.

The average monthly salary by year, respectively, is UAH 15,258, UAH 17,159 and UAH 19,063.

Unemployment rate - 8.5%, 8.0% and 7.8%, respectively.

The state budget deficit for next year is expected to be 3.5% of GDP, in 2023 - 3.0% of GDP and in 2024 - 2.7% of GDP.

The level of public debt and publicly guaranteed debt next year is projected at 57.6% of GDP (in 2021 - 64.7% of GDP), and by 2024 it will decrease to 52.4% of GDP.

As Ukrainian News Agency earlier reported, the draft state budget for 2022 provides for an increase in the budget of the Pension Fund by 6.2% to UAH 531 billion compared to 2021.